Penson pays $35m for GHCO

Penson Worldwide last week bought Goldenberg Hehmeyer (GHCO)'s clearing and customer business in a deal valued at $35m in cash and Penson stock.

The move was designed to help Penson expand and grow further into the futures markets through a variety of clearing firm memberships on futures exchanges. The deal also highlighted Penson, which went public in May, as a fast-growing firm with a focus on clearing and execution services primarily in equities. Chris Hehmeyer and Ralph Goldenberg who founded...